‘Ships now fear crossing the Strait of Hormuz’

“Ships are now afraid to cross the Strait of Hormuz, and that has profound implications for the global economy.”

Professor John Gong, an economics professor at Beijing University of International Business and Economics, warned of the repercussions of continued tensions in the Strait of Hormuz on global energy markets, emphasizing that major industrialized nations cannot sustain high oil prices for an extended period.